What is Grace Period Token (GPT) ?
Grace Period Token (GPT) (EFG) dApp is created based on smart contracts architecture. The basic logic is the system to be fully decentralized. The dApp goal is decentralized finance (DeFi) and it has fixed total supply (of 1, 000, 000 tokens). All the tokens, including the basic system tokens (EFG and GPT) and collateral assets, are ECRC-20 standard which is similar with ERC-20 (Ethereum) standard. They are freely transferable by users, and they can be even delegate handling(allowance). Additionally, the system can also accept ECOC (the native coin).
Grace Period Token (GPT) he EFG dApp can be cross-platform. This can be done with ‘wrapped tokens.’ Any assets (native coins or tokens) on any blockchain can be swapped in a decentralized way (atomic swaps), with wrapped tokens moving back and forth between Ecochain and the other blockchains. Wrapped tokens follow ECRC-20 standard so that they can join the dApp without problems.
Grace Period Token (GPT) EFG dApp also includes an Oracle system and open source client for user interface and interaction with the block chains. Oracle system obtains real-time exchange rates from many different trusted sources and injects them into smart contracts. All these mean that the system stays decentralized.
Grace Period Token (GPT) Coin Storage Key Points
|Coin Name||Grace Period Token|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
ECOC Financial Growth
ECOC Financial Growth (EFG) is an interesting lending opportunity on decentralize blockchain, that let developers create new financial applications that are global, safe, and open for ECOC coins user. ECOChain developers keep developing the core blockchain infrastructure, as well as the tools to empower the new financial system.
How can you know what is your maximum allowed borrowing in EFG token. It depends on how much ECOC have you deposited as collateral. In EFG dApp the user must repay in EFG token the loan. Repay amount is based on calculations depending on the maximum borrowed collateral amount in ratio of 60%. The function calculates your account’s liquidity, which is based on EFG current value of the maximum allowed borrowing amount. But you would never borrow this much at once because your account may instantly be liquidated if the price moves in the wrong direction.
This is the user’s current borrowed amount plus the total interest that needs to be repaid. The maximum EFG token that users can borrow is the 60% of the total collateral value of ECOC. This is calculated with a simple to use function of the EFG dApp.
The Borrow Rate
Borrowers owe the prevailing interest rate of the asset they are borrowing. The borrowed loan and interest do not have to be repaid daily unless the amount of the collateral plus the borrower’s interest equal or more than 60% of the total deposited collateral amount. On this occasion, the EFG dApp system can liquidate the collateral.
The borrower can reclaim the collateral back. To do this he must first repay the loan and pay the borrower’s total interest. The total debt is calculated by using the repay function in the EFG dApp at the time that the debtor repays back the loan.
A borrowing account becomes insolvent when the Borrow Balance exceeds the amount allowed by calculating as a ratio of 60% of the collateral amount. Having your account liquidated is bad because you lose all of your collateral.
The EFG token that is supplied to the user can also be used as speculation in the cryptocurrency or financial markets.